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The move is part of its 2013-15 business plan to invest 3 billion baht to expand its business in both the domestic (Thai) market and neighbouring countries to cash in on high demand from the Asean Economic Community (AEC) in 2015.

Sanan Ungubolkul, Srithai's president, said the company will spend 900 million baht to expand its melamine and plastics production in Asia, while the remaining 2.1 billion baht will be spent domestically in Thailand.

Srithai will hold major stakes in the joint venture in Indonesia. The 500-million baht factory will be built on a 25-rai plot by 2014.

The Indonesian factory will produce PET bottles and plastic pallets as well as containers and caps for the local market.

Srithai expects to win a bid from a giant company in Indonesia to supply plastic products for three years. The value of the order is estimated to be worth a few hundred million baht a year.

Mr Sanan said the company has set up a joint venture firm with its Indonesian partner to manufacture melamine products in Indonesia for 15 years.

"We saw a huge opportunity over there on the back of not only the country's population size, which comprises almost a third of the AEC population, but also continued growth in many industries, particularly cars and beverages," he said.

Source: Daily "Bangkok Post", Bangkok; 4 Oct 2012

(Syed Rashid Ali, Karachi, Pakistan)

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